Starbucks Forays Into Web3 By Launching Starbucks Odyssey

Ethereum World News
Ethereum World News September 12, 2022
Updated 2022/09/12 at 5:05 PM
6 Min Read
  • Starbucks is launching its new Web3 venture dubbed Starbucks Odyssey
  • Under this new venture, users will be able to trade new NFT stamps which will enable them to explore new rewards and “immersive virtual experiences.”

Coffee beverage giant Starbucks has finally unveiled its much-awaited web3 venture dubbed Starbucks Odyssey which will permit users to unlock unique digital rewards and experiences.

Starbucks Explores Web3, Launches A New Venture Called Starbucks Odyssey 

Starbucks has unveiled its newest crypto web3 venture dubbed Starbucks Odyssey. Launched in collaboration with Polygon, Starbucks will be offering its members the ability to purchase and sell unique NFT stamps which its users can acquire to unlock new virtual experiences.

“New Starbucks Odyssey experience will offer members the ability to earn and buy digital collectible stamps (NFTs) that will unlock access to new, immersive coffee experiences.” the announcement reiterated.

For now, the Starbucks Odyssey venture can be accessed by its reward members and partners living in the United States. The members can purchase the newly launched digital collectible or NFT stamps which can help them unlock new benefits and explore some “unique and immersive coffee experiences ” that the brand has curated for its global fan base.

Dubbed as an extension of the industry-leading Starbucks Rewards Program, members will be able to collect these stamps by logging into their accounts and completing a series of interactive games and quizzes. After completing these challenges addressed as “journeys,” users will be able to collect their NFT stamps as a reward which can later be redeemed to explore plenty of unique virtual experiences curated by Starbucks.

The firm has further launched limited edition stamps or NFTs which can be purchased through the built-in marketplace in the Starbucks app. These NFTs can be purchased through a credit card and will not require a crypto wallet to facilitate the purchase of these stamps.

“Members can also purchase ‘limited-edition stamps’ (NFTs) through a built-in marketplace within the Starbucks Odyssey web app experience. Limited-edition stamps will be available for all members to purchase directly with a credit card.  No crypto wallet or cryptocurrency will be required – making the Starbucks Odyssey experience fun and easy way for members to access this new technology and claim an ownership stake in their loyalty to Starbucks.” the announcement later adds

Each NFT stamp comes with a unique rarity value that users can further exchange within the Starbucks ecosystem. The more stamps a member collects, the more susceptible he is to unlocking specially curated immersive web3 experiences such as having access to a virtual espresso martini class to collect invitations to special events planned and launched by Starbucks.

“Each digital collectable stamp will include a point value based on its rarity, and the stamps can be bought or sold among members within the marketplace, with ownership secured on a blockchain. As stamps are collected, members’ points will increase, unlocking access to unique benefits and experiences that have never been offered before. These experiences could range from a virtual espresso martini-making class, to access to unique merchandise and artist collaborations, to invitations to exclusive events at Starbucks Reserve Roasteries or even trips to Starbucks Hacienda Alsacia coffee farm in Costa Rica.” the announcement further adds.

Per the announcement, the stamps will be featuring the iconic Starbucks artwork created by its partners and outside artists. Furthermore, a portion of the proceeds generated from the sale of these stamps will also be donated to “support causes that matter to Starbucks partners and Starbucks Rewards members.”

“As one of the first companies to integrate NFTs with an industry-leading loyalty program at scale, Starbucks will create an accessible Web3 community that will enable new ways to engage with members and partners (employees).”

Speaking about Starbucks newest Web3 initiative, Brady Brewer, Starbucks executive vice president, and chief marketing officer added:

“Leveraging Web3 technology will allow our members to access experiences and ownership that was not possible before. Starbucks Odyssey will transcend the foundational benefits that our Starbucks Rewards members have come to love, and unlock digital, physical, and experiential benefits that are uniquely Starbucks…By integrating into the Starbucks Rewards ecosystem and grounding the experience in coffee, connection, and community, we are entering the Web3 space differently than any other brand, while deepening our members’ connection to Starbucks. Our vision is to create a place where our digital community can come together over coffee, engage in immersive experiences, and celebrate the heritage and future of Starbucks.”

To access the service offered under the Starbucks Odyssey initiative, users will be required to join a waitlist starting from September 12. The venture is all set to go live by the end of this year.

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